Overview

• Retail investors coordinating on social forums have pushed Opendoor shares up more than 400% in July, including a 19% gain on July 24
• Kohl’s briefly doubled to $21.23 on July 22 due to heavy retail demand and climbed 10.5% on July 24, while Krispy Kreme set a one-day options volume record exceeding 100,000 contracts
• Goldman Sachs’ Most Shorted Rolling Index is up 13% this month and over 60% since April, and its Speculative Trading Indicator stands at its highest level since 2021
• Surges in short-dated call option trading signal elevated risk appetite on retail platforms, echoing mechanics of past short squeezes
• Broad equity benchmarks trade near record highs on strong earnings and economic data, but strategists warn that frothy meme-stock activity could trigger a sharp pullback